PUBLISHER: The Business Research Company | PRODUCT CODE: 1436164
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436164
Cookies and crackers, low-moisture baked goods, pair well with dips, jams, or peanut butter, offering versatile snack options.
The primary categories within the baked goods sector encompass cookies and crackers. Cookies denote small cakes produced from firm, sweet dough, baked on expansive, flat baking sheets, and subsequently sliced or spooned. These products are distributed through various channels such as supermarkets, hypermarkets, convenience stores, specialty outlets, and online platforms, catering to consumers including restaurants, households, and other entities.
The cookie and cracker market research report is one of a series of new reports from The Business Research Company that provides cookie and cracker market statistics, including cookie and cracker industry global market size, regional shares, competitors with cookie and cracker market share, detailed cookie and cracker market segments, market trends, and opportunities, and any further data you may need to thrive in the cookie and cracker industry. This cookie and cracker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cookie and cracker market size has grown steadily in recent years. It will grow from $100.1 billion in 2023 to $104.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The expansion seen in the historical period is attributed to various factors including shifting consumer preferences, economic conditions, effective marketing and branding strategies, evolving ingredient and health trends, and the impact of globalization and cultural influences on consumer choices and behaviors.
The cookie and cracker market size is expected to see steady growth in the next few years. It will grow to $122.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. Anticipated growth in the upcoming period is expected due to innovation in flavors and formats, a focus on sustainability and ethical practices, shifts in demographics, global expansion into emerging markets, and the continued influence of health and wellness trends. Key trends projected for this period encompass the increasing role of digital marketing and e-commerce, the integration of technology and automation, the prevalence of on-the-go snacking, the clean label movement, and the emphasis on personalization and customization within the food and beverage industry.
Anticipated growth in the cookies and crackers market is strongly tied to the rising demand for bakery products. These encompass a range of goods primarily crafted from flour or grains. Manufacturers in the bakery sector are adapting their offerings to meet evolving consumer preferences, emphasizing factors such as reduced fat content and increased nutritional value in their products. Such items are known for their high calorie count and nutritional benefits, leading to a surge in demand for bakery goods and subsequently boosting the cookies and crackers market. As an example, data sourced from Euromonitor International, as published on the Government of Canada's official website in October 2022, indicated that retail sales of baked goods in the US escalated to $67.9 billion in 2021 and are projected to further rise to $75.8 billion by 2026. This escalating interest in bakery items is a key driver fueling the growth trajectory of the cookies and crackers market.
The burgeoning e-commerce realm is anticipated to be a significant driver in the expansion of the cookie and cracker market in the foreseeable future. E-commerce, the online buying and selling of goods and services, plays a pivotal role in the cookies and crackers industry by offering consumers convenience, a wider array of product choices, easy comparison, time efficiency, access to specialty items, and streamlined inventory management with real-time updates on product availability. For instance, data from the United States Census Bureau in August 2023 revealed that in the second quarter of 2023, e-commerce estimates increased by 7.5% (equivalent to 1.4%) in comparison to the second quarter of 2022, whereas overall retail sales saw a 0.6% increase (or 0.4%). This upward trend in the e-commerce sector directly correlates with the upsurge in the cookie and cracker market, indicating that the expanding e-commerce landscape is a significant catalyst behind the market's growth trajectory.
In the cookies and crackers market, product innovation stands out as a leading trend embraced by major companies striving to maintain their market positions. For instance, The Hershey Company, renowned for chocolate and confectionery products, introduced Reese's Dipped Animal Crackers in January 2023. These bite-sized, animal-shaped crackers are fully coated in peanut butter candy and partly dipped in milk chocolate, offering consumers the beloved Reese's flavor in a playful format. Packaged in 4.25-oz bags featuring 13 different animal shapes, such as lions and bears, this product represents a novel addition to the market.
Collaborations and partnerships between prominent entities within the cookie and cracker market are fostering innovation and fortifying market standings. An example is the partnership between Pepperidge Farm Goldfish and OLD BAY, a renowned seasoning blend by McCormick & Company Inc. This collaboration, established in May 2023, combines the bold flavors preferred by enthusiasts of both Goldfish and OLD BAY. By infusing the popular seafood seasoning into the iconic fish-shaped crackers, this limited-edition flavor caters directly to consumer taste preferences. The partnership reflects a shared commitment to food innovation and customer-centricity, showcasing a joint effort to deliver unique and appealing products to the market.
In December 2021, Hearthside Food Solutions LLC, a prominent US-based manufacturer specializing in grain-based food and snack products, completed the acquisition of the assets belonging to Weston Foods Ambient Division. The specific financial terms of this transaction were undisclosed. This acquisition strategically expands the Hearthside network, granting access to an expanded customer base consisting of well-known food companies. Additionally, Hearthside will integrate approximately 1,100 full-time employees as part of this acquisition, thereby bolstering its workforce and extending its presence to encompass 43 locations across the United States, Europe, and Canada. Weston Foods, the acquired division, is a notable Canadian food production company recognized for its bread, rolls, and assorted baked goods.
Major companies operating in the cookie and cracker market report are Mondelez International, Nestle S.A, PepsiCo Inc., Danone SA, General Mills Inc., Grupo Bimbo S.A.B. de C.V., Kellanova, Ferrero Group, Pladis Global, The Hershey Company, Yamazaki Baking Co., Ltd., Campbell Soup Company, ITC Limited, Meiji Holdings Co., Ltd., United Biscuits Ltd., Flowers Foods Inc., Parle Products Pvt. Ltd., Britannia Industries Limited, Delifrance, Hostess Brands Inc., Premier Foods Group Limited, Lotus Bakeries, Kambly SA, Sara Lee Frozen Bakery, Burton's Biscuit Company, Walkers Shortbread Ltd., Naturell Pvt. Limited, Interstate Bakeries Corp., M.Y. San Corporation, Munchy Food Industries Sdn. Bhd.
Europe was the largest region in the cookie and cracker market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global cookies and cracker market report during the forecast period. The regions covered in the cookie and cracker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cookie and cracker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cookies and crackers market consist of sales of soda crackers, graham crackers, sprayed snack crackers, drop cookies, bar cookies, and rolled cookies. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cookie And Cracker Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cookie and cracker market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cookie and cracker ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cookie and cracker market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.